February’s leading economic indicators point to continued growth into third quarter

Economic growth is expected to continue in Nebraska through the summer, according to leading economic indicators.

The February report suggests moderate growth six months from now.

Eric Thompson, director of the Bureau of Business Research at the University of Nebraska, says businesses surveyed plan to hire and increase sales.

“There’s also some good news for the labor market as initial claims for unemployment insurance were down again in Nebraska during the month of February,” Thompson tells Nebraska Radio Network. “A good business environment, a good labor market, creates an optimistic outlook for the state economy.”

He says most components of the leading indicator improved.

One negative was a slight increase in the value of the U.S. dollar during February.

“The value of the dollar is influenced by quite a few things,” Thompson explains. “Interest rates is one factor, and just the general strength of the U.S. economy is another thing that will influence the value of the U.S. dollar.”

He says consumer confidence is not a factor, but that remains strong too.

“Consumers in Nebraska had a positive outlook for making major purchases over the next six months and just their general outlook of financial situation.”